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Palestine Telecommunications PALTEL earns a pretax income of JD79.89 million; up by 2.7% in the first nine months of 2012

2012-11-04

The Palestine Exchange (PEX) received the unaudited interim consolidated condensed financial statements from Palestine Telecommunications Company ( PALTEL). PEX disclosure rules give all PEX listed companies one month to report their third quarter interim financial statements as reviewed by the company’s internal auditor. In addition to this press release, this disclosure was published on the PEX website (www.pex.ps) and emailed to PEX member securities firms.

The disclosed information includes: the Statement of Financial Position, the Income Statement, the Statement of Comprehensive Income, Changes in Equity Ownership, the Statement of Cash Flows and Notes to the interim financial statements ( 11 notes). The company also provided its interim financial statements via the approved electronic form of disclosure applicable to the Service Sector. The interim report should also include information required by Article (37/2) of the PEX disclosure rules in place. The company included information regarding management, issued shares, material changes and significant events that may have affected financial performances during the first nine months of the year.

According to company data for the first nine months of the year, net profit before taxes reached 79,888,000 JOD, compared with a net profit before taxes of 77,760,000 JOD from the first nine months of 2011, a net increase of 2.7%. Total assets of the company reached 592,862,000 JOD as of September 30th, 2012, compared to total assets of 574,842,000 JOD as of December 31st, 2011, a net increase of 3.1%. Total liabilities of the company reached 157,728,000 JOD as of September 30th, 2012, compared to total liabilities of 146,112,000 JOD as of December 31st, 2011, a net increase of 8.0%. Net ownership equity of the company reached 435,134,000 JOD as of September 30th, 2012, compared with net ownership equity of 428,730,000 JOD as of December 31st, 2011, a net increase of 1.5% in the first nine months. All figures in the financial statements appeared in thousands of JOD.


 

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